Bactech Announces Proposed Private Placement

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FOR IMMEDIATE RELEASE

Bactech Announces Proposed Private Placement

Number of Shares Outstanding: 11,009,766

CANADA, ONTARIO, TORONTO, May. 10 -/E-Wire/-- BacTech Enviromet Corporation ("BacTech")(TSX VENTURE:YBA) announced today the Company's intention to raise up to $1.5 million by way of a private placement. The private placement will consist of units offered at a price of $0.50 per unit, with each unit consisting of one common share and one-half of a common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one additional common share at a price of $0.80 for a period of one year from closing. The proceeds of the private placement will be used for general corporate purposes and to facilitate the Company's project acquisition strategy.

In a separate matter, BacTech has reached agreement with Rothschild's Golden Arrow Fund (GAF) to extend the maturity date of GAF's convertible notes by eleven months. The $1 million note which is now due March 31, 2003 continues to be convertible into 1,666,666 common shares of BacTech at $0.60 per share. The original notes were accompanied by 1,666,666 common share purchase warrants exercisable at $1.10 expiring on April 30, 2002. These warrants have expired without being exercised. In consideration of GAF agreeing to the extension of the convertible note, BacTech has agreed to issue to GAF 754,717 new warrants exercisable at $0.80 until March 31, 2003.

BacTech, with its partners Industrias Penoles S.A. de C.V. ("Penoles") and Mintek of South Africa ("Mintek"), continue the advancement of the pre-feasibility study for a commercial operation that will treat polymetallic concentrates at a plant proposed for Mexico. BacTech is currently negotiating with several groups that own resources which are amenable to the company's proprietary process technology. It is BacTech's intent to use its commercialized technology for precious and base metal extraction to acquire equity interests in toll treatment facilities and/or direct ownership in resource deposits.

BacTech is a metallurgical process technology company. The Company's patented technology and processes use naturally occurring bacteria to liberate valuable metals from refractory sulphide ores and concentrates. BacTech's commercially proven, cost effective, proprietary process technology is an environmentally benign alternative to the traditional smelting process.

"The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release."

Ross Orr, 416/813-0303,

Geoff Donohue, 011 61 412 113 931,

[REDACTED-EMAIL]

http://www.bactech.com

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